Rekha Jhunjhunwala takes over entire 9 apartments building to protect Arabian Sea view
Rekha Jhunjhunwala takes over entire 9 apartments building to protect Arabian Sea view
It’s a fact that over the past four months,Jhunjhunwalas have made three insanely expensive property deals
Reportedly,RekhaJhunjhunwala hailed as India’s 3rd richest woman, recently owned an entire building of 9 apartments to protect the Arabian Sea view from her home. Her net worth is $8.0 B (Rs 66,000 crore approx.), as per Forbes.
After the demise of Rakesh Jhunjhunwala in 2022, she inherited his extensive stock portfolio, to emerge as India’s wealthiest women. Her investment portfolio includes holdings in 29 companies, including Tata Motors and Titan.
Rockside CHS, situated just behind Jhunjhunwala’s RARE Villa residence, was designated for redevelopment under a cluster scheme.
Developer Shapoorji Pallonji put forth a commercial proposal wherein each homeowner would receive an extra carpet area of nearly 50 percent in the redeveloped flats. The average area of each of these apartments is 2100 sq ft. According to documents obtained by IndexTap.com, the Jhunjhunwala family has paid over Rs 9.02 crore in stamp duty alone.
Given that the redevelopment would have obstructed the sea view from the RARE Villa, Jhunjhunwala acquired nearly every unit of the old building. According to registration documents obtained by Zapkey, Jhunjhunwala, through various entities, bought nine apartments totalling Rs 118 crore since November 2023.
In another recent deal made last week, Jhunjhunwala bought an apartment valued at Rs 11.76 crore in Walkeshwar.
The apartment, spanning 1,666 sqft of carpet area, is situated within Rockside Apartment, a building over 50 years old near the Arabian Sea. Jhunjhunwala paid stamp duty and registration fees of Rs 59 lakh.
Earlier in November 2023, Kinnteisto LLP, the firm run by Jhunjhunwala, acquired over 1.94 lakh sq ft of commercial office spaces in Mumbai’s Bandra Kurla Complex and the Chandivali area for around
Rs 739 crore, marking one of the country’s largest commercial office deals.
Coming to Rekha, after graduating from Mumbai University, she married Rakesh Jhunjhunwala in 1987, with whom she has three children – Nishtha, and twins Aryaman and Aryaveer. Rakesh Jhunjhunwala at the time of his death, was worth $5 billion (Rs 41,000 crore approx.)
News Edit K.V.Raman
